Question

O. 14. Enter the following transactions in the Journal of Sh. Arun Govil
2015
June
June
1 Sh. Arun Govil paid into bank as capital 76,00,000
3 Purchased goods from Mukesh of the list price of 32,00,000 at 10% trade
discount.
June 4 One-fourth of the above goods returned to Mukesh for not being upto specifica.
tions.​

Answer 1

Answer:

Journal entries in the books of sh.Arun govil

1)Bank account dr. 7600000

to Sh.arun govil. 7600000

(being paid into bank as capital)

2) Purchase a/c. dr. 28800000

to mukesh a/c. 28800000

(being goods purchased)

3) Mukesh a/c. dr. 720000

to purchase return a/c. 720000

(being purchased return)